In June 2016 the crediting portfolio of commercial banks (including loans issued to nonresident entities) has increased by 1.2 billion GEL (+7.8 month on month). The exchange rate growth without effect made up 2% month on month, according to the statistics by the National Bank of Georgia (NBG). The credit …

Within the frames of its regional capacity development program, the International Monetary Fund Technical Assistance Center for East Africa (IMF East AFRITAC) arranged a professional visit for the representatives of the Bank of Uganda to the National Bank of Georgia (the NBG). During the visit, the NBG shared its analytical …

I agree with Koba Gventadze’s statement that de-dollarization is the only way to increase confidence in the Georgian lari, – Prime Minister Giorgi Kvirikashvili said while commenting on NBG President Koba Gventadze’s statement according to which, people should get used to living without the dollar. “I absolutely agree with Koba …

In June 2016, the volume of money transfers from abroad made up 105.4 million USD (230.6 million GEL), which is 4.9 percent (4.9 million USD) more than the amount in June 2015. According to National Bank of Georgia, 35, 9 million is transferred from Russia in June, 13, 2 million – …

Vice-President of National Bank of Georgia estimates the recent drop of GEL rate. Archil Mestvirishvili explains, that commenting on instant change of GEL rate is not correct in order to avoid creation of expectations at the market. Manager of NBG names the reasons, which caused fluctuation of GEL rate. “Due to …

“There are a lot of countries that have ceased to publish financial stability report, however, later some of them resumed, and some of them did not”, – said Koba Gvenetadze, the president of National Bank of Georgia to Business Contact. According to him, Financial Stability Report is one of the …

President of National Bank of Georgia links GEL strengthening to the natural factors and makes a note to the preliminary conditions. Koba Gvenetadze talked about it with TV-company Maestro. The chief banker of the country made a focus on the improvement of current account deficit and positive expectations. According to him, current …

Deposit Insurance Fund will be delivered to National Bank of Georgia under the management or any other high reputable structure. Davit Lezhava, deputy finance minister has declared to TV-company Maestro, that the government will maximally try to avoid hard pressure on the banking sector, so insurance volume should be within …

The National Bank of Georgia (NBG), as a member of Basel Consultative Group (BCG), continues working within the Basel Core Committee’s Supervision and Implementation Group. According to the bank, this group works on implementing advanced approaches in international supervisory policy, and the principles that it develops constitute international standards. The …

The National Bank of Georgia (NBG) will be authorized to regulate online credit organizations. The project is to protect the consumer rights and interests, Georgian Economy Minister Dimitri Kumsishvili told reporters. “Under the project, the national bank will regulate the sector and we believe this is a correct decision. Regretfully, …

Despite the appreciation of the lari, importing companies do not plan to reduce prices. Georgian lari has dramatically strengthened in recent weeks, the National Bank fixed the exchange rate at 2.2309. During the previous year, the lari has lost 30% of its value which forced the importing companies to increase …